BOI: Interest Rate to Remain at 3.25%

Bank of Israel Chairman Stanley Fischer will not raise interest rates next month, the BOI said Monday. The prime interest rate will remain at 3.25%. The Bank said that research indicated that over the next 123 months inflation would reach about 2.9% over the next 12 months, at which point an interest rate increase might be indicated.

The Bank added that interests rates in developed countries remained low and are likely to remain low for the foreseeable future.